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Elliott Wave Analyst

EUR/USD: "Triangle" going to move on

EUR/USD: "Triangle" going to move on

There’s a possible “Triangle” in wave 4, which is taking place on the four-hour chart. It’s likely that wave [c] was ended last Friday, so it’s time for wave [d]. In this case, we should keep in mind 2/8 Murrey Math Level (P=250) as a target for wave [d] of 4.

EUR/USD: "Triangle" going to move on

We’ve got a pullback from 7/8 Murrey Math Level (P=200), which was the final point for wave (с) of [c]. Also, there’s a downward impulse in wave (a). So, bears are likely going to deliver wave (c) of [d] in the short term. If we see a pullback from 4/8 MM Level, there’ll be a sign that wave [d] is over.

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